The New York Times reported that credit card offers sent via the mail in the second quarter of 2008 are down about 14 percent over the second quarter of 2007. Does this mean that we’ll be free from their junk mail in our mailbox anytime soon? That seems unlikely. They still sent out an amazing [...]
The Democratic Convention is slated to begin this week in Denver and I’m already disappointed about Democratic Presidential Nominee Senator Barack Obama’s choice for his Vice Presidential Candidate - Senator Joseph (Joe) Biden from Delaware.
Delaware is the state of incorporation for most large corporations in the United States because of the perception (whether real or [...]
The dividing line between supporters and opponents of credit card reform by the Federal Reserve and Congress is pretty clear. Consumers are on one side of the aisle and the banks and credit card companies are on the other side.
So the real question is: Why does the Helicopter Association International care?
News articles on the House Financial Services Committee vote noted that alterations to the Credit Cardholders’ Bill of Rights made it similar to the provisions under consideration by the Federal Reserve. Proponents argued that the proposed Federal Reserve regulations could be weakened by the industry before they are adopted while opponents argued that the House [...]
The Credit Cardholders’ Bill of Rights sponsored by Representative Carolyn Maloney moved out of the House Financial Services Committee on Friday by a vote of 39 to 27. It will now be brought up for a vote in the full House.
Read More:
Washington Post - Credit Card Bill Passes One Hurdle
Reuters - House Panel Backs Curbs [...]
Clearly, our congressional representatives have been spending some time coming up with metaphors to support their position on credit card reform. Representative Jeb Hensarling (R-Texas) was quoted by Reuters describing the problems with reforming credit card fees:
“If you press in one side of the balloon it pokes out on another side of the balloon.”
If only [...]
Monday is the last day that the Federal Reserve is accepting public comment on its proposed credit card and banking regulations. More than 30,000 letters have been received already. Have they got yours?
One way to know that the odds of credit card reform are pretty good is to check out the title of a recent New York Times article: Credit Card Overhauls Seem Likely.
The article, which sums up the pressures on legislators and regulators for reform on the credit card industry, asks another important question for consumers: [...]
Here’s an editorial published in the Houston Chronicle from Congressional supporters of credit card reform legislation titled Give Consumers Tools to Combat Credit Card Giants.
More than 9300 consumers and creditors have weighed in on the Federal Reserve’s proposals for change in the credit card industry, according to Marketwatch. The deadlines for comment are July 18th and August 4th - so if you have anything to say, you had best say it now. Instructions on how to comment are available [...]
